RDIF expands cooperation with Rönesans Holding

Press release, 09.08.2016

Moscow, August 9, 2016- The Russian Direct Investment Fund (RDIF) and Rönesans Holding, the leading construction, real estate development and investment company, have reached an agreement to expand the scope of their joint investment activities. The parties are focused on attractive investment opportunities within the Russian Federation; and have identified healthcare, construction, infrastructure and commercial real estate as priority sectors.

The agreement was signed today as part of President of the Republic of Turkey Recep Tayyip Erdogan’s official visit to the Russian Federation. Under the agreement, both RDIF and Rönesans Holding could invest up to $200 million into the partnership.

"We are pleased to continue cooperation with Rönesans Holding. RDIF and Rönesans have been actively evaluating a number of attractive joint projects in Russia leveraging Rönesans experience in infrastructure, construction, healthcare, energy, and real estate development. We hope that our ties and the experience in implementing joint projects in Russia and Turkey will make a significant contribution to the strengthening of the investment partnership between the two countries."

Dr. Erman Ilıcak, President of Rönesans Holding, said:

“As a company born in this country, we have always regarded Russia as one of our most important investment partners. Since the establishment, we have successfully completed various projects and developed strong relationships in the Russian market. As the next stage of this work, we are proud to be partnering with RDIF and strengthening the investment partnership between Turkey and Russia. We believe that implementing joint projects in both countries will strengthen their respective economies.”

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Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

Rönesans Holdingwas established in 1993 by Dr. Erman Ilıcak in St. Petersburg, Russia. Rönesans Holding furnishes services as the main contractor and investor in 21 countries throughout the world. Operating in such fields as construction, real estate development, energy and health, the Holding is the 37th largest international contracting company of the world and the 10th largest contractor of Europe. Further information can be found at http://www.ronesans.com/en